About the company
In January 2021, Robinhood was at the centre of Reddit's /r/WallStreetBets battle against hedge funds. Thousands of activist investors bought GameStop stock, forcing a "short squeeze" on the hedge funds' positions.
Robinhood added $3.4 billion to its balance sheet during the GameStop stock squeeze after suspending trades for a week.
In July 2021, Robinhood had a successful listing on NASDAQ under the ticker name HOOD. Investors valued Robinhood on its IPO date at $32 billion, while the company raised $2,1 billion for further development.
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